Belski said that "in the last 10 - 12 years we in the
investment world have become so macro dominated we've forgotten
that really fundamentals define stocks. We live by one very
simple premise that stocks lead earnings, which lead the
economy."

Belski put together a presentation for clients outlining his
bullish thesis based on 16 economic and market indicators he
factored into his call.

A few highlights from the presentation:

Job growth has rebounded into year-end in recent years, and
Belski expects that pattern to repeat in 2012

Economists recently lowered economic forecasts, which means
there is greater likelihood of an upside surprise

Belski isn't worried about a flattening yield curve because
the last five recessions have been preceded by a steepening yield
curve

Investor sentiment has become exceedingly bearish, which is a
good contrarian indicator